THE fallout from the global financial crisis has left many big investors with red faces as poor due diligence or undue risk taking has been exposed by the seismic wrenching in the financial system.
DESPITE the doom and gloom coming from the state's mining sector, the January Deloitte WA Index revealed stock values of miners rose more than 3 per cent, bucking the overall trend.
THE National Australia Bank has signed a 10-year lease to open a one of a kind branch at the former Red Rooster premises in the Murray Street Mall later this year.
THREE Western Australian companies servicing the resource sector have managed to defy the economic downturn to report record sales and profits in the half-year to December 2008.
An impairment charge to its New Zealand business and reduced levels in funds under management, administration or advice has impacted Plan B Group's earnings, which fell 52 per cent.
Shares in Fortescue Metals Group have surged as much as 25 per cent today as the iron ore miner confirms it has been in talks with companies from China and the UK over investment opportunities.
Extract Resources has revealed that Rio Tinto has boosted its interest in dissident shareholder Kalahari Minerals, as its shares soared nearly 40 per cent over the past five trading days.
The falling Australian dollar has impacted Schaffer Corporation's bottom line with the industrial company today reporting a 42 per cent drop in its interim net profit.
Perth-based Arafura Resources has become the latest miner to sign an investment deal with a Chinese company, which has agreed to inject at least $8 million in return for a major shareholding.
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Stirling Resources has expanded its resources investments with a $4.8 million investment in the assets of collapsed mineral sands miner, Matilda Minerals.
A scoping study into Scotgold Resources' Cononish gold and silver project in the United Kingdom has confirmed the economic potential of the operation, which has estimated capital costs of $27 million.
Atlas Iron says it has the opportunity to defer $20 million in mine establishment costs after it entered into a deal to access infrastructure that can support its Abydos iron ore project in the Pilbara.
Analysts at Hartleys have lowered its full year net profit forecast for Imdex but retained its Buy recommendation on the back of strong potential growth opportunities for the mining services company.
Monadelphous Group says it will accelerate efforts to expand further into the oil and gas and infrastructure markets amid the slowing minerals sector, as it posts a record interim net profit.
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Wesfarmers has confirmed a sharp downturn in earnings in two of its Perth-based business units, with the energy and chemicals & fertilizer divisions both adversely affected by last year's Varanus Island gas explosion.
Cost-cutting measures have reached new heights with Osborne Park-based Northern Mining going to extremes to reduce the company's overheads and its ongoing operating costs in light of the current economic environment.
Nickel miner Western Areas is seeking to finalise a new offtake arrangement after announcing a major restructure of its old offtake agreement with Norilsk Nickel, which is closing its Australian mining operations.
Wesfarmers Ltd has reported a 46 percent rise in net profit saying its businesses have weathered the global economic crisis but as expected its earnings per share have slumped.
Perth-based car retailer and logistics company Automotive Holdings Group has posted a $1.8 million loss for the half-year to December 2008, as a result of a modest decline in operating profit combined with impairments and write-downs.
